Adidas Expands Poverty-Fighting Project to India
Adidas, the global sportswear giant, is expanding its solidarity project to India. The initiative, aimed at combating poverty, follows a previous attempt in Bangladesh. The company's first nine months of the year saw a 16% profit increase to €652 million and a 10% sales boost to €10,081 million.
The Adidas solidarity project in India will kick off in major metropolitan cities like Mumbai, Delhi, and Bangalore. Unlike in Bangladesh where Adidas faced limited success, the details of the Indian campaign's start date and sales areas remain undefined. The project involves selling a pair of sports shoes for just $1 (€0.74), a stark contrast to the $3.5 import rights paid per pair in Bangladesh.
Adidas' expansion into India reflects its commitment to social responsibility while capitalising on the vast market potential. The company's robust financial performance, with profits and sales surging, indicates its readiness to invest in such initiatives.
Adidas' solidarity project in India signals a significant step towards poverty alleviation through affordable footwear. The company's financial strength and market reach make it well-positioned to execute this project, with the potential to positively impact many lives in India's major cities.
